By JANET McCONNAUGHEY Associated Press NEW ORLEANS (AP) — The Biden administration accepted nearly $190 million Wednesday in bids from an offshore oil and gas lease sale that was held nearly a year ago but rejected by a federal judge. The Bureau of Ocean Energy Management’s action was required by the climate bill that was signed Aug. 16 — a …

By MATTHEW BROWN Associated Press BILLINGS, Mont. (AP) — The Biden administration reached a legal settlement Tuesday that requires the government to reexamine potential climate damages from oil and gas leases put up for sale under the Trump administration on government land in Montana and North Dakota. Similar deals have been reached in recent weeks for lease sales covering thousands …

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — Warren Buffett’s company has bought up more than $11 billion worth of Occidental Petroleum stock this year, giving Berkshire Hathaway control of more than 20% of the oil producer. Occidental’s stock rose more than 3.5% on Tuesday to $62.18 after Buffett revealed his latest purchases of nearly 6.7 million Occidental …

Gabrielle Arsiaga/News-Sun Two female go-getters, one goal — teaching up and coming business owners how to run a business from the ground up. Women’s Economic Self Sufficiency Team, (WESST) held the “Go Latinas” event which brought in predominately women owned businesses from across Lea County to network, socialize, and build connections with one another to help push one another’s businesses …

By JANET McCONNAUGHEY and MATTHEW BROWN Associated Press NEW ORLEANS (AP) — President Joe Biden’s administration on Friday proposed up to 10 oil and gas lease sales in the Gulf of Mexico and one off the Alaska coast over the next five years — going against the Democrat’s climate promises but scaling back a Trump-era plan that called for dozens …

LONDON (AP) — OPEC and allied oil-producing countries decided Thursday to gradually increase the flows they send to the world, even as Europe’s plan to sanction Russian oil threatens to yank millions of barrels off a global market already thirsty for crude. The cautious approach from the OPEC+ alliance — which includes non-member Russia — will exacerbate a global energy …

For the News-Sun The count of active oil and gas drilling rigs in the Permian Basin posted its largest gain since January 2021 last week with the addition of nine rigs for a new total of 332, compared to 224 a year ago. That total is up 13.3 percent since starting the year with 293 rigs. As of April 8, …

Curtis Wynne/News-Sun Burkes Outlet will soon open in two Lea County locations. The apparel and accessories retail store plans ribbon cuttings at the Lovington Square on May 5 and at the Broadmoor Mall in Hobbs on June 2. Grand openings at 9 a.m. will immediately follow the 8:45 a.m. ribbon-cutting ceremonies each day at each location. Lovington Mayor David Trujillo …

Chris Phelan/Wealth of Geeks Inflation has taken over nearly every aspect of U.S. consumerism, and gas prices are no exception. The average price of a gallon of gas in the U.S. is at an all-time high of $4.43, significantly above the previous record of $4.11 set in 2008. Certain parts of the country are experiencing even higher prices: drivers in …

By STAN CHOE and ALEX VEIGA AP Business Writers NEW YORK (AP) — Technology companies led stocks broadly higher on Wall Street Tuesday, as oil prices slid sharply for the second day and inflation worries ebbed. The market rally came a day ahead of the Federal Reserve’s highly anticipated interest rate policy update. The S&P 500 rose 2.1%, ending a …